$BCDA
BioCardia, Inc.

2019 Q4 Form 10-Q Financial Statement

#000143774919023200 Filed on November 19, 2019

View on sec.gov

Income Statement

Concept 2019 Q4 2019 Q3 2018 Q3
Revenue $220.0K $194.0K $84.00K
YoY Change 120.0% 130.95% -35.38%
Cost Of Revenue $40.00K $24.00K $109.0K
YoY Change -66.67% -77.98% -25.85%
Gross Profit $180.0K $170.0K -$25.00K
YoY Change -1900.0% -780.0% 47.06%
Gross Profit Margin 81.82% 87.63% -29.76%
Selling, General & Admin $1.540M $1.390M $1.283M
YoY Change 6.94% 8.34% -2.95%
% of Gross Profit 855.56% 817.65%
Research & Development $2.170M $2.007M $2.262M
YoY Change -1.81% -11.27% 33.06%
% of Gross Profit 1205.56% 1180.59%
Depreciation & Amortization $30.00K $29.00K $22.00K
YoY Change 50.0% 31.82% 4.76%
% of Gross Profit 16.67% 17.06%
Operating Expenses $3.710M $3.397M $3.545M
YoY Change 1.92% -4.17% 17.31%
Operating Profit -$3.530M -$3.227M -$3.570M
YoY Change -3.29% -9.61% 17.47%
Interest Expense $30.00K $112.0K
YoY Change 50.0%
% of Operating Profit
Other Income/Expense, Net $0.00 -$565.0K $26.00K
YoY Change -2273.08% -31.58%
Pretax Income -$3.500M -$3.790M -$3.540M
YoY Change -3.85% 7.06% 18.0%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$3.500M -$3.792M -$3.544M
YoY Change -3.85% 7.0% 18.09%
Net Earnings / Revenue -1590.91% -1954.64% -4219.05%
Basic Earnings Per Share
Diluted Earnings Per Share -$515.5K -$628.5K -$832.9K
COMMON SHARES
Basic Shares Outstanding 6.825M 4.847M
Diluted Shares Outstanding

Balance Sheet

Concept 2019 Q4 2019 Q3 2018 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $5.590M $8.910M $4.820M
YoY Change 4.29% 84.85% -68.14%
Cash & Equivalents $5.585M $8.910M $4.820M
Short-Term Investments
Other Short-Term Assets $640.0K $180.0K $220.0K
YoY Change 42.22% -18.18% 15.79%
Inventory $4.000K $45.00K $134.0K
Prepaid Expenses $224.0K
Receivables $147.0K $103.0K $170.0K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $6.378M $9.237M $5.348M
YoY Change 2.57% 72.72% -65.81%
LONG-TERM ASSETS
Property, Plant & Equipment $181.0K $210.0K $154.0K
YoY Change 24.83% 36.36% -5.52%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $54.00K $54.00K $54.00K
YoY Change 0.0% 0.0% 0.0%
Total Long-Term Assets $1.300M $1.444M $208.0K
YoY Change 553.27% 594.23% -4.15%
TOTAL ASSETS
Total Short-Term Assets $6.378M $9.237M $5.348M
Total Long-Term Assets $1.300M $1.444M $208.0K
Total Assets $7.678M $10.68M $5.556M
YoY Change 19.65% 92.24% -64.97%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $914.0K $1.112M $1.102M
YoY Change 23.01% 0.91% 146.53%
Accrued Expenses $10.00K $102.0K $226.0K
YoY Change -92.13% -54.87% -53.59%
Deferred Revenue $252.0K
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $4.003M $4.044M $2.532M
YoY Change 57.1% 59.72% 26.6%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $1.310M $1.440M $80.00K
YoY Change 1537.5% 1700.0% 0.0%
Total Long-Term Liabilities $1.310M $1.440M $80.00K
YoY Change 1537.5% 1700.0% 0.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.003M $4.044M $2.532M
Total Long-Term Liabilities $1.310M $1.440M $80.00K
Total Liabilities $5.308M $5.487M $2.612M
YoY Change 102.21% 110.07% 25.88%
SHAREHOLDERS EQUITY
Retained Earnings -$101.1M -$97.57M -$82.72M
YoY Change 17.03% 17.95% 19.95%
Common Stock $7.000K $46.00K $38.00K
YoY Change 40.0% 21.05% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.370M $5.194M $2.944M
YoY Change
Total Liabilities & Shareholders Equity $7.678M $10.68M $5.556M
YoY Change 19.65% 92.24% -64.97%

Cashflow Statement

Concept 2019 Q4 2019 Q3 2018 Q3
OPERATING ACTIVITIES
Net Income -$3.500M -$3.792M -$3.544M
YoY Change -3.85% 7.0% 18.09%
Depreciation, Depletion And Amortization $30.00K $29.00K $22.00K
YoY Change 50.0% 31.82% 4.76%
Cash From Operating Activities -$3.260M -$1.470M -$2.010M
YoY Change 0.31% -26.87% 12.92%
INVESTING ACTIVITIES
Capital Expenditures -$10.00K -$20.00K $0.00
YoY Change -50.0% -100.0%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change
Cash From Investing Activities -$10.00K -$20.00K $0.00
YoY Change -50.0% -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -70.00K 9.890M 0.000
YoY Change -101.85% -100.0%
NET CHANGE
Cash From Operating Activities -3.260M -1.470M -2.010M
Cash From Investing Activities -10.00K -20.00K 0.000
Cash From Financing Activities -70.00K 9.890M 0.000
Net Change In Cash -3.340M 8.400M -2.010M
YoY Change -742.31% -517.91% 12.92%
FREE CASH FLOW
Cash From Operating Activities -$3.260M -$1.470M -$2.010M
Capital Expenditures -$10.00K -$20.00K $0.00
Free Cash Flow -$3.250M -$1.450M -$2.010M
YoY Change 0.62% -27.86% 13.56%

Facts In Submission

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-6189000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-7823000
CY2019Q3 us-gaap Net Income Loss
NetIncomeLoss
-3792000
CY2018Q3 us-gaap Net Income Loss
NetIncomeLoss
-3544000
us-gaap Net Income Loss
NetIncomeLoss
-11208000
us-gaap Net Income Loss
NetIncomeLoss
-10345000
CY2019Q1 us-gaap Net Income Loss
NetIncomeLoss
-3665000
CY2019Q2 us-gaap Net Income Loss
NetIncomeLoss
-3750000
CY2018Q1 us-gaap Net Income Loss
NetIncomeLoss
-3584000
CY2018Q2 us-gaap Net Income Loss
NetIncomeLoss
-3217000
CY2019Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-565000
CY2018Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
26000
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-530000
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
97000
CY2019Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-3227000
CY2018Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-3570000
us-gaap Operating Income Loss
OperatingIncomeLoss
-10678000
us-gaap Operating Income Loss
OperatingIncomeLoss
-10442000
CY2019Q3 us-gaap Operating Lease Expense
OperatingLeaseExpense
150000
us-gaap Operating Lease Expense
OperatingLeaseExpense
450000
CY2019Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
1593000
CY2019Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
1260000
CY2019Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
508000
CY2018Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
CY2019Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
752000
CY2018Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
CY2019Q3 us-gaap Operating Lease Payments
OperatingLeasePayments
153000
us-gaap Operating Lease Payments
OperatingLeasePayments
459000
CY2019Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
1505000
CY2019Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
1180000
CY2018Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
CY2019Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.1205
CY2019Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P2Y91D
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
1891000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
649000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
630000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Remainder Of Fiscal Year
OperatingLeasesFutureMinimumPaymentsRemainderOfFiscalYear
612000
CY2019Q3 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
54000
CY2018Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
54000
CY2019Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-1000
CY2018Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-3000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-2000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-3000
CY2019Q3 us-gaap Other Operating Income
OtherOperatingIncome
17000
CY2018Q3 us-gaap Other Operating Income
OtherOperatingIncome
29000
us-gaap Other Operating Income
OtherOperatingIncome
53000
us-gaap Other Operating Income
OtherOperatingIncome
100000
CY2018Q4 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
200000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
144000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
51000
CY2019Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2018Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2019Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
25000000
CY2018Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
25000000
CY2019Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2018Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2019Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2018Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2019Q3 us-gaap Preferred Stock Value
PreferredStockValue
CY2018Q4 us-gaap Preferred Stock Value
PreferredStockValue
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
5000
CY2019Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1133000
CY2018Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
990000
CY2019Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
210000
CY2018Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
145000
CY2019Q2 us-gaap Stockholders Equity
StockholdersEquity
-2236000
CY2019Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
2007000
CY2018Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
2262000
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
6392000
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
6248000
CY2019Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-97568000
CY2018Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-86361000
CY2019Q3 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
194000
CY2018Q3 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
84000
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
495000
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
522000
CY2018Q4 us-gaap Sale Of Stock Price Per Share
SaleOfStockPricePerShare
6.75
CY2019Q3 us-gaap Stockholders Equity
StockholdersEquity
5194000
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
11125000
CY2018Q1 us-gaap Stockholders Equity
StockholdersEquity
8207000
CY2018Q2 us-gaap Stockholders Equity
StockholdersEquity
5758000
CY2019Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
1390000
CY2018Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
1283000
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
4460000
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
4315000
us-gaap Share Based Compensation
ShareBasedCompensation
2142000
us-gaap Share Based Compensation
ShareBasedCompensation
2083000
CY2019Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
390199
CY2019Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
24.17
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
15122
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
254785
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
608485
CY2019Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
848148
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
25.16
CY2019Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
18.90
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
14.16
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
5.28
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
CY2019Q3 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
1206000
CY2019Q1 us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
1000
CY2019Q3 us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
CY2018Q1 us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
CY2018Q2 us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
CY2018Q3 us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
CY2018Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
5000
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
3792000
CY2019Q1 us-gaap Stockholders Equity
StockholdersEquity
818000
CY2018Q3 us-gaap Stockholders Equity
StockholdersEquity
2944000
us-gaap Use Of Estimates
UseOfEstimates
<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table style=";text-indent:0;font-family:'Times New Roman', Times, serif;font-size:10pt; min-width: 700px;" cellspacing="0" cellpadding="0" border="0"><tr><td style="vertical-align:top;width:6.7%;"><div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"></div> </td> <td style="vertical-align:top;width:3.3%;"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><div style="display: inline; font-style: italic;"><div style="display: inline; font-weight: bold;">(c)</div></div></div> </td> <td style="vertical-align:top;width:90%;"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><div style="display: inline; font-style: italic;"><div style="display: inline; font-weight: bold;">Use of Estimates</div></div></div> </td> </tr> <tr> <td style="vertical-align:top;width:6.7%;"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</div> </td> <td style="vertical-align:top;width:3.3%;"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</div> </td> <td style="vertical-align:top;width:90%;"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</div> </td> </tr> <tr> <td style="vertical-align:top;width:6.7%;"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</div> </td> <td style="vertical-align:top;width:3.3%;"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</div> </td> <td style="vertical-align:top;width:90%;"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:9pt;margin-right:0pt;margin-top:0pt;text-align:justify;">The preparation of the financial statements in accordance with U.S. GAAP requires management to make certain estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ materially from those estimates. Significant items subject to such estimates and assumptions include share-based compensation, the useful lives of property and equipment, allowances for doubtful accounts and sales returns, incremental borrowing rate, and inventory valuation.</div> </td> </tr> </table></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div>
CY2019Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
6030662
CY2018Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
4253100
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
5263058
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
4250509

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